IRB Infrastructure Developers Limited, whose IPO has evoked an enthusiastic response in an otherwise bumpy primary market, has fixed the Issue Price at Rs 185 per equity share.

Drawing a good response from even the retail investors, the company’s IPO was subscribed over 4.3 times. The issue closed yesterday. The QIB portion was subscribed 6.4 times and HNI 1.6 times. The retail and employee portions were too nearly fully subscribed at 0.99 and 0.94 times. Deutsche Equities India Private Ltd is the Sole Global Coordinator and BRLM for the Issue and Kotak Mahindra Capital Co. Ltd is the Co-BRLM for the Issue.

IRB Infrastructure, with extensive experience in the roads and highways sector and currently involved in 12 BOT projects in this sector, has entered the capital markets on 31st January 2008 with a public issue of 5,10,57,666 Equity Shares of Rs 10 each through 100% book building process and with a price band of Rs 185 to Rs 220.

The Issue constituted 15.36% of the fully diluted post Issue paid-up capital of the Company. Fitch has assigned a grade of 4 (ind) out of a maximum of 5 (ind) indicating that the fundamentals of the Issue are above average, relative to other listed equity shares in India, through its letter dated December 17, 2007. For details of the grading of the Issue, see the section “General Information” of the Prospectus. The Equity Shares are proposed to be listed on the Bombay Stock Exchange Limited (“BSE”) and the National Stock Exchange of India Limited (“NSE”).

Sourced From: Concept Public Relations India Pvt. Ltd

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